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1.
A white person who takes advantage of a minority. A thief. Often representing "The Man". An oppressor. This does not apply to the average person of caucasian descent.
That White Devil stole my land.
by Pissed Off Native American September 17, 2005
 
2.
A racial slur against white people, typically by black racists
"Damn cracker ass white-devil."
by Jackson April 17, 2004